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GNFC emerged as the first fertilizer company in India to transition to cashless economy successfully. Company’s township in Bharuch, Gujarat became the first 100% cashless township of India. Business and township rapidly transited to cashless in manner of implementation and management, which is a classic example of capturing value in a new way through steady transformation. Gujarat Narmada Valley Fertilizers & Chemicals Ltd (GNFC) won the prestigious Golden Peacock Award in the category of Innovative Product/Service for pioneering a cashless township transformation model.
Gujarat Narmada Valley Fertilizers & Chemicals Ltd (GNFC) won the prestigious Golden Peacock Award in the category of Innovative Product/Service for pioneering a cashless township transformation model.
The award recognizes GNFC’s successful efforts in transforming its township into a modern, digital and cashless township, for generating economic value addition and social development.
The event was attended by distinguished leaders from across sectors, as part of the 27th World Congress on Business Excellence & Innovation. Under the auspice of NITI Aayog, the apex planning body of India chaired by Prime Minister, GNFC’s cashless township model has been implemented in 81 integrated townships across 12 states.
On 14th April, Prime Minister, Narendra Modi launched 81 such townships in a grand ceremony in Nagpur, and expressed hope that in the near future many more townships will become cashless.
The idea of cashless Township was conceived and implemented following the call of Prime Minister Narendra Modi for India’s transition to a cashless society.
The award recognizes the company’s contribution to innovative frameworks that will be the key for business success in the new millennium. The award was conferred upon cashless township innovation, as it enables corporations with integrated townships to succeed by adapting swiftly in the digital era. This innovation was powered by technology, in line with the changing demographics of the economy, and the growing need for transparent and secure financial transactions.
GNFC emerged as the first fertilizer company in India to transition to cashless economy successfully. Company’s township in Bharuch, Gujarat became the first 100% cashless township of India. Business and township rapidly transited to cashless in manner of implementation and management, which is a classic example of capturing value in a new way through steady transformation.
It followed three precise and concise steps that began with trainings and digital literacy campaigns far and wide, followed by building and adapting infrastructure, and concluded with cross functional task force deployed for implementation, outreach and support. Knowledge sharing and cross silo functioning of GNFC township and (n) Code, GNFC’s IT wing optimized results.
GNFC won from among 313 applicants for Golden Peacock Global Award for Innovative Product/Service. Applicants included SMEs, Public, Private and Government Enterprises for the year 2017. After a rigorous 3 level procedure of shortlisting and selection by independent assessors comprising experts in the field, GNFC’s cashless township was selected by the Grand Jury as a model to be emulated.
The Award has been presented by Sheikh Nahyan bin Mubarak Al Nahyan, Cabinet Member & Minister of Culture & Knowledge Development, UAE in presence of Sheikh Ahmed bin Saeed Al Maktoum, President Dubai Civil Aviation Authority Chairman and Chief Executive Officer, The Emirates Airline and Group Chairman of Dubai World.
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